Lehman Brothers Creates N.Y. Derivatives Trading Subsidiary
NON-BANKS
Lehman Brothers' New York-based newly-created derivatives subsidiary, Lehman Brothers Financial Products Inc. (LBFP), should begin trading during the second quarter, officials say. It will enter into a variety of currency and interest-rate derivative transactions with highly-rated counterparties.
LDFP is the fifth derivatives subsidiary announced in the past year, evidence that investment banks have become increasingly aware of credit-sensitivity in the marketplace. LBFP is a fully-funded
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